Friday, June 29, 2018

Domo Up 30 Percent In IPO

American Fork, Utah-based Domo had a successful IPO on Friday, trading up 30 percent in its first day of trading after its debut on the Nasdaq Global Market in the morning. Domo closed at $27.30 for the day after its debut in the morning at $21.00 per share. Domo, which trades as DOMO on the Nasdaq Global Market, priced midway in its earlier estimated IPO range of $19.00 to $22.00 per share on Thursday evening. Domo's IPO was underwritten by Morgan Stanley, Allen & Company, Credit Suisse, UBS Investment Bank, William Blair, JMP Securities, and Cowen. Domo's biggest institutional investors are Institutional Venture Partners (IVP), Benchmark Capital, BlackRock, and GGV. Domo develops business intelligence, dashboarding, and analytics software. The successful IPO chalks up yet another huge win for founder Josh James, who also was the founder of Omniture, which was acquired by Adobe in 2009 for $1.8 billion; James took Omniture public with an IPO in 2006.